Fox Blocks, a division of Omaha-based Airlite Plastics Co., announced it is acquiring "select key assets" of a competing Canadian developer and manufacturer of foam concrete forms used in the construction industry.
Canadian regulators approved the deal Jan. 29 and U.S. regulators were expected to follow suit Jan. 31.
An inside sales representative at Arxx, based in Cobourg, Ontario, told the World-Herald all of the company’s employees, about 14 total, are being laid off effective Feb. 3. As recently as four years ago, the company had as many as 42 total employees.
Recently, Arxx had struggled financially and was in receivership while it was courted by Fox Blocks.
Mike Kennaw, vice president for Fox Blocks, said the company will not continue to operate an office in Ontario, where Arxx was headquartered.
The acquisition is Fox Blocks’ second in two months. It follows the December announcement of Fox Blocks acquiring major assets from Reward Wall Systems Inc., another developer and manufacturer of insulated concrete forms, or ICFs.
ICF products feature interlocking foam pieces that act as concrete forms and are marketed as energy efficient. After being filled with concrete, the foam forms stay in place and offer added protection against temperature fluctuations and increased wind resistance.
Fox Blocks are manufactured at Airlite Plastics’ plant north of Eppley Airfield and in 13 other contract locations. According to industry publication ICF Builder, Arxx products are manufactured in 10 locations across Canada and the U.S.